Bitcoin bulls may need to temper expectations for January 2026. 21Shares co-founder Ophelia Snyder warns that the factors that fueled last year’s surge are unlikely to repeat, as market sentiment remains cautious.
Historically, January brings fresh inflows into Bitcoin ETFs, but Snyder says 2026 could break the pattern. Bitcoin’s recent highs, $109,000 in early January 2025 and $125,100 in October, were followed by a sharp $19 billion liquidation event on October 10, triggering a downtrend. Today, Bitcoin trades at $91,150, down nearly 10% over the past 30 days, prompting traders to adopt a more risk-averse stance.
Despite the short-term caution, Snyder remains optimistic long-term. She attributes the recent pullback to broader risk-off sentiment in financial markets, not crypto-specific problems.
Several catalysts could still drive Bitcoin higher, including:
- Expanded ETF access on major platforms
- Increased government adoption
- Growing demand for digital value stores beyond gold
However, strong performance in gold and cautious investors could keep Bitcoin subdued, as traditional markets compete for attention.
Not everyone agrees. BitMine chair Tom Lee predicts Bitcoin will reach new highs before January 2026 ends, citing a historical average of 3.81% returns for January since 2013.
The takeaway: Bitcoin’s January outlook depends heavily on broader market sentiment. Low confidence levels and ongoing volatility make short-term predictions tricky, but the long-term story for crypto remains promising.
